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Finance: automating the customs system to facilitate trade and reduce the cost of import and export


The Ministry of Finance affirmed its keenness to provide the appropriate climate to stimulate investment; This contributes to attracting international development partners to work in various sectors, pointing to the government's keenness to open broad prospects for the local and foreign private sector to advance the process of economic development. As one of the engines of growth, especially as it provides new job opportunities for young people, in a way that helps in optimally exploiting the promising development opportunities offered by Egypt through the implementation of its giant national projects.

 

The ministry said, during a meeting with Hani Sonbol, CEO of the International Islamic Trade Finance Corporation, in the presence of Shahat Ghaturi, head of the Customs Authority, Dr. Mona Nasser, Assistant Minister for Customs Follow-up and Development, and Ambassador Hossam Hussein, Advisor to the Minister for Foreign Relations, that we look forward to deepening development partnerships, which contributes to strengthening Efforts to improve the lives of citizens and raise the level of public services, stressing that efforts are being made to complete the automation and development of the customs system; Ports become transit gates, not storage places, and Egypt turns into a developed global logistics area. Which leads to facilitating the movement of trade and reducing the cost of import and export, and thus reduce the cost of goods and services in the local markets.

 

The CEO of the International Islamic Trade Finance Corporation praised the positive developments in various aspects of life in Egypt, especially the customs system, which is reflected positively on the movement of trade, expressing his appreciation for the performance boom that the Egyptian economy is achieving, according to the testimony of international institutions.

 

He stressed, "We seek to increase cooperation with Egypt to support development initiatives during the coming period, in conjunction with Egypt's hosting of the annual meetings of the Islamic Development Bank Group in 2022."

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